Proposition 10 would issue $5 billion in bonds. These bonds would then be used to provide $3.425 billion to aid consumers purchase high fuel economy or alternative fuel vehicles. Another $1.25 billion would be used for research and development of renewable, solar, and win energy. There would also be grants to cities.
Like any measure with bonds there is a cost. For this measure it’s $335 million a year. Given the current credit market it’s likely that’s an understatement of the expense.
Proponents argue that Proposition 10 would help lead California to energy independence. Proposition 10 is supported by the AQMD. Opponents, including some consumer groups and the California Federation of Teachers, argue that this measure would remove money from other programs.
No matter where you stand on this remember to vote on November 4th.